Guideline Value for KRISHNAN STREET

Krishnan Street guideline value

The current guideline value of Krishnan Street in Jelandianpettai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Krishnan Street has changed

The guideline value for Krishnan Street has undergone several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Krishnan Street's 2024 figure above this median.

• Krishna Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Krishna Street: Rs 2,750 per sq.ft (2024)
• Kovalan Street: Rs 2,200 per sq.ft (2024)
• Kumaraguruparar Street: Rs 2,200 per sq.ft (2024)
• Kumaran Street: Rs 2,200 per sq.ft (2024)
• Kumaran Street Veera Anjaneyar Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Krishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Krishnan Street?

The Sub Registrar Office covering Krishnan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Jelandianpettai

The guideline value is a critical factor in property transactions within Jelandianpettai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the legal sale price and the associated fees, which are essential for the registration process. This ensures transparency and uniformity in property transactions across the region.

Frequently asked questions

What is the current guideline value of Krishnan Street?

The current guideline value of Krishnan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft in 2024.

What is the land classification for Krishnan Street?

Krishnan Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Krishnan Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Jelandianpettai?

The Chennai South Joint I Sub Registrar Office covers Jelandianpettai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.